Resona Asset Management Co. Ltd. Lowers Stock Position in McKesson Corporation $MCK

Resona Asset Management Co. Ltd. lowered its position in shares of McKesson Corporation (NYSE:MCK) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,308 shares of the company’s stock after selling 3,239 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in McKesson were worth $40,514,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in McKesson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after buying an additional 73,109 shares during the period. State Street Corp lifted its position in McKesson by 0.9% during the third quarter. State Street Corp now owns 5,750,519 shares of the company’s stock valued at $4,447,110,000 after buying an additional 51,510 shares during the period. Franklin Resources Inc. lifted its position in McKesson by 3.5% during the third quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock valued at $2,071,428,000 after buying an additional 90,948 shares during the period. Alliancebernstein L.P. lifted its position in McKesson by 5.6% during the third quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock valued at $1,850,001,000 after buying an additional 126,684 shares during the period. Finally, Northern Trust Corp lifted its position in McKesson by 0.4% during the third quarter. Northern Trust Corp now owns 1,532,856 shares of the company’s stock valued at $1,184,193,000 after buying an additional 6,613 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, EVP Michele Lau sold 2,725 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $990.00, for a total value of $2,697,750.00. Following the completion of the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $3,214,530. The trade was a 45.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Maria Martinez sold 349 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $939.87, for a total value of $328,014.63. Following the completion of the transaction, the director directly owned 301 shares of the company’s stock, valued at approximately $282,900.87. This trade represents a 53.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is currently owned by insiders.

McKesson Price Performance

MCK opened at $775.38 on Tuesday. The stock has a 50-day moving average price of $851.72 and a 200-day moving average price of $857.32. The firm has a market cap of $93.20 billion, a PE ratio of 20.16, a P/E/G ratio of 1.13 and a beta of 0.35. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.McKesson’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts anticipate that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is 8.53%.

Wall Street Analyst Weigh In

Several equities analysts have commented on MCK shares. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings reissued a “buy (b+)” rating on shares of McKesson in a research report on Monday, May 4th. Wells Fargo & Company lowered their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. JPMorgan Chase & Co. lowered their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, TD Cowen lifted their price target on McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $968.87.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.